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Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2024

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Nidec (NJDCY) reported strong financial results for H1 FY2024. Net sales reached a record high of ¥1,293.8 billion, up 11.8% year-over-year. Operating profit also hit a record high of ¥121.0 billion, increasing 4.9% compared to the previous year. However, profit before income taxes decreased 30.9% to ¥100.174 billion, and profit attributable to owners dropped 28.5% to ¥75.572 billion. The operating profit ratio slightly declined to 9.4% from 10.0% in the previous year. Earnings per share decreased to ¥65.76 from ¥91.99 in the same period last year.

Nidec (NJDCY) ha riportato risultati finanziari solidi per il primo semestre dell'anno fiscale 2024. Le vendite nette hanno raggiunto un massimo storico di ¥1.293,8 miliardi, con un aumento dell'11,8% rispetto all'anno precedente. Il profitto operativo ha anch'esso raggiunto un massimo storico di ¥121,0 miliardi, con un incremento del 4,9% rispetto all'anno scorso. Tuttavia, il profitto prima delle imposte è diminuito del 30,9% a ¥100,174 miliardi, e il profitto attribuibile agli azionisti è sceso del 28,5% a ¥75,572 miliardi. Il rapporto di profitto operativo è leggermente diminuito al 9,4% rispetto al 10,0% dell'anno precedente. L'utile per azione è sceso a ¥65,76 rispetto a ¥91,99 nello stesso periodo dell'anno scorso.

Nidec (NJDCY) informó resultados financieros sólidos para el primer semestre del año fiscal 2024. Las ventas netas alcanzaron un récord de ¥1.293,8 mil millones, aumentando un 11,8% interanual. El beneficio operativo también alcanzó un máximo histórico de ¥121,0 mil millones, incrementándose un 4,9% en comparación con el año anterior. Sin embargo, el beneficio antes de impuestos disminuyó un 30,9% a ¥100,174 mil millones, y el beneficio atribuible a los propietarios cayó un 28,5% a ¥75,572 mil millones. El ratio de beneficio operativo disminuyó ligeramente al 9,4% desde el 10,0% del año anterior. Las ganancias por acción disminuyeron a ¥65,76 desde ¥91,99 en el mismo período del año pasado.

Nidec (NJDCY)는 2024 회계연도 상반기에 대한 강력한 재정 결과를 보고했습니다. 순매출은 ¥1,293.8억으로 사상 최고치를 기록했습니다, 전년 대비 11.8% 증가했습니다. 운영 이익도 ¥121.0억으로 사상 최고치를 기록했습니다, 작년과 비교하여 4.9% 증가했습니다. 그러나, 세전 이익은 30.9% 감소하여 ¥100.174억에 이르렀고, 소유주에게 귀속되는 이익은 28.5% 감소하여 ¥75.572억으로 떨어졌습니다. 운영 이익 비율은 전년의 10.0%에서 9.4%로 약간 감소했습니다. 주당 순이익은 작년 같은 기간의 ¥91.99에서 ¥65.76로 감소했습니다.

Nidec (NJDCY) a rapporté des résultats financiers solides pour le premier semestre de l'exercice 2024. Le chiffre d'affaires net a atteint un niveau record de ¥1,293.8 milliards, en hausse de 11,8% par rapport à l'année précédente. Le bénéfice d'exploitation a également atteint un niveau record de ¥121,0 milliards, en augmentation de 4,9% par rapport à l'année précédente. Cependant, le bénéfice avant impôt a diminué de 30,9% à ¥100,174 milliards, et le bénéfice attribuable aux propriétaires a chuté de 28,5% à ¥75,572 milliards. Le ratio de bénéfice d'exploitation a légèrement baissé à 9,4% contre 10,0% l'année précédente. Le bénéfice par action a diminué à ¥65,76 contre ¥91,99 au cours de la même période l'année dernière.

Nidec (NJDCY) berichtete über starke Finanzergebnisse für das erste Halbjahr des Geschäftsjahres 2024. Der Nettoumsatz erreichte mit ¥1.293,8 Milliarden einen Rekordwert, was einer Steigerung von 11,8% im Vergleich zum Vorjahr entspricht. Der Betriebsgewinn erreichte ebenfalls mit ¥121,0 Milliarden einen Rekordwert, was einer Steigerung von 4,9% im Vergleich zum Vorjahr entspricht. Der Gewinn vor Steuern hingegen sank um 30,9% auf ¥100,174 Milliarden, und der den Eigentümern zurechenbare Gewinn fiel um 28,5% auf ¥75,572 Milliarden. Die Betriebsgewinnquote sank leicht auf 9,4% gegenüber 10,0% im Vorjahr. Der Gewinn pro Aktie verringerte sich auf ¥65,76 im Vergleich zu ¥91,99 im gleichen Zeitraum des Vorjahres.

Positive
  • Record-high net sales of ¥1,293.8 billion, up 11.8% Y/Y
  • Record-high operating profit of ¥121.0 billion, up 4.9% Y/Y
  • Quarterly operating profit reached record levels
Negative
  • Profit before income taxes declined 30.9% Y/Y to ¥100.174 billion
  • Profit attributable to owners decreased 28.5% Y/Y to ¥75.572 billion
  • Operating profit ratio declined from 10.0% to 9.4% Y/Y
  • Earnings per share dropped from ¥91.99 to ¥65.76 Y/Y

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2024 through September 30, 2024.

The highlights are as follows:

  • First half net sales stood at a record high of ¥1,293.8 billion, 11.8% higher Y/Y.
  • First half operating profit increased 4.9% Y/Y to ¥121.0 billion, marking a record high.
  • Quarterly operating profit stood at a record high.

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentages

Six months ended

September 30,

Increase
(Decrease)
%

Three months ended

September 30,

Increase
(Decrease)
%

 

2024

2023

2024

2023

Net sales

1,293,811

1,157,448

11.8%

645,645

593,086

8.9%

Operating profit

121,000

115,309

4.9%

60,672

55,133

10.0%

Ratio of operating profit to net sales

9.4%

10.0%

-

9.4%

9.3%

 -

Profit before income taxes

100,174

144,886

(30.9)%

21,502

58,781

(63.4)%

Ratio of profit before income taxes to net sales

7.7%

12.5%

-

3.3%

9.9%

 -

Profit attributable to owners of the parent

75,572

105,710

(28.5)%

19,487

41,644

(53.2)%

Ratio of profit attributable to owners of the parent to net sales

5.8%

9.1%

-

3.0%

7.0%

-

Earnings per share attributable to owners of the parent
- basic (Yen)

65.76

91.99

-

16.96

36.24

-

Earnings per share attributable to owners of the parent
- diluted (Yen)

65.76

91.99

-

16.96

36.24

-

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2024:
https://www.nidec.com/en/ir/news/2024/news1023-02/

A webcast (audio-only) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2024 is scheduled for 10:00 a.m. JST on Thursday, October 24, 2024. To listen to the webcast, please visit Nidec website at https://www.nidec.com/en/ir/event/conference. (The webcast will be available on October 25, 2024.)

About Nidec Corporation
Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2024, 18.8% of its consolidated sales were represented by small precision motors; 25.6% by automotive products; 40.2% by appliance, commercial and industrial products; 11.9% by machinery; 3.5% by electronic and optical components, and 0.2% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current Founder and Chairman of the Board.

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What was Nidec's (NJDCY) net sales growth in H1 FY2024?

Nidec's net sales grew by 11.8% year-over-year to ¥1,293.8 billion in H1 FY2024.

How much did Nidec's (NJDCY) operating profit increase in H1 FY2024?

Nidec's operating profit increased by 4.9% year-over-year to ¥121.0 billion in H1 FY2024.

What was Nidec's (NJDCY) earnings per share for H1 FY2024?

Nidec's earnings per share was ¥65.76 for H1 FY2024, down from ¥91.99 in the previous year.

How did Nidec's (NJDCY) profit before income taxes perform in H1 FY2024?

Nidec's profit before income taxes decreased by 30.9% year-over-year to ¥100.174 billion in H1 FY2024.

NIDEC CORP ADR

OTC:NJDCY

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